The global motor generator set market is forecasted to be evaluated at US$ 4,445.8 Mn by 2032, up from US$ 2,677.9 Mn in 2022, registering a CAGR of 5.2% during the forecast period.
To prevent the disruption of daily business activities due to power outages, the adoption of motor generator set is applied to provide electricity supply. Despite the lower cost of diesel generator sets, the gas generator sets are anticipated to witness a higher infiltration rate expanding the motor generator set market share.
Welding applications and induction heating applications used for automotive, electrical and electronics industries increase demand for motor generator set. The potential of generator sets to supply the required output voltage, and output frequency broadens the motor generator set market size.
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Here are some key takeaways for the motor generator set market:
- Growing Demand: The global motor generator set market is expected to experience significant growth in the coming years due to increasing demand from various end-use industries such as automotive, aerospace, marine, and power generation.
- Energy Efficiency: Motor generator sets are preferred over conventional power generators due to their higher energy efficiency, making them ideal for applications requiring continuous and reliable power supply.
- Renewable Energy Integration: Motor generator sets are increasingly being used in renewable energy integration applications such as wind and solar power generation, driving the demand for these sets.
- Asia-Pacific Region: The Asia-Pacific region is expected to dominate the motor generator set market in the coming years, owing to the increasing demand from countries such as China, India, Japan, and South Korea.
- Key Players: Some of the key players in the motor generator set market include Cummins Inc., Caterpillar Inc., Kohler Co., Rolls-Royce Power Systems AG, and Mitsubishi Electric Corporation.
A motor generator set (M-G set) is formed by combining an electric generator and a motor. It is an integral part of most power driven equipment, such as windmills and rails. A motor generator set converts the frequency and voltage of an electric power source to the required voltage or frequency on the load side. It has an AC motor that runs continuously and, in turn, runs the DC generator, which enables the connected machinery or equipment to operate seamlessly.
Motor-generator sets provide electrical power as needed. They can be used as power backup in crises or to power remote or rural sites, medical facilities and data processing units. They find use in several other commercial applications that need a remote source or an independent power source. A flywheel motor generator set is a type of motor generator set that provides a power source to coil launchers.
Flywheel motor generator sets can be classified as DC integrated, AC integrated or hybrid flywheel motor generator sets, which is widely used in the automotive Industry.
Motor generator sets are being gradually used for welding applications, induction heating applications and for end users, such as automotive, electrical and electronic industries. These sets operate on available power supply and give the required output voltage and output frequency, making them a preferred option. The U.S. is a global leader in terms of import of motor and generator sets, followed by China and Germany.
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Market Competitor:
Some of the key market players in the motor generator set market are The Horlick Company, Emerson Electric, Baldor Electric Co., Ingersoll-Rand, General Electric Co., Krollmorgen Corp., ABB Inc., Allied Motion Inc., Cummins Inc., Kirloskar Oil Engines, Kohler Co., Yamaha Motor, Powerica, Escorts, Sterling & Wilson, HIMOINSA, Caterpillar Inc., Trane Technologies, Mahindra Powerol, Atlas Copco AB, C&S Electric, JCB, MTU Onsite Energy, Deere & Company, Ashok Leyland, Greaves Cotton, Mitsubishi Heavy Industries, Wärtsilä, Siemens, Honda Motors, Doosan Corporation, Wartsila Corporation, Honda Siel Power Products Ltd., AKSA Power Generation, Briggs and Stratton Corporation, Generac Power Systems Holdings Inc., Cooper Corporation, PRAMAC, F.G. Wilson, Himoinsa, John Deere, Denyo, Rolls-Royce Holdings, Wacker Neuson, Jubaili Bros, Siam Telemach, Turntide Technologies, REVOLUTION Turbine Technologies, Axiflux, Comoab, Sync Power Solutions, etc.
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Motor Generator Set Market: Segmentation
Segmentation of the motor generator set market by type:
- DC to AC motor generator set
- AC to DC motor generator set
Segmentation of the motor generator set market by Frequency conversion:
- 50Hz to 60 Hz
- 60 Hz to 50 Hz
- 60Hz to 400 Hz
- 50Hz to 400 HZ
Segmentation of the motor generator set market by end users:
- Industrial
- Automotive industry
- Electrical and electronics
- Energy, oil and power industry
- Metal and mineral industry
- Other
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